BTC Weekly Technical Analysis
Bitcoin
The first and largest cryptocurrency, created as decentralized digital money with a capped supply of 21 million coins.
BTC Technical Analysis Summary
Bitcoin is in a severe correction phase, having declined over 50% from its cycle peak of approximately 140,000. The price has broken below both the 20 and 50-week SMAs, signaling a dominant bearish trend, though the RSI at 28.20 suggests the asset is currently oversold. Price is now testing a critical historical support zone around 68,000 (the 2021 highs), with the 200-week SMA at ~58,375 serving as the next major floor if selling continues.
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BTC Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is in a steep downtrend, trading well below the 20 and 50-week SMAs with strong negative momentum on the MACD.
Long-term Sentiment (weeks to months): Bearish
The chart shows a major cycle reversal from highs near 140,000, breaking key structural support levels and the 50-week SMA.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-16T02:11:59.491Z
- Model: gemini-3-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $66,500.00 | $64,000.00 - $69,000.00 | Strong | Confluence of historical 2021 highs and the current lower Bollinger Band. |
| $58,250.00 | $58,000.00 - $58,500.00 | Strong | Aligns with the 200-week SMA (58,374.57), a major long-term trend indicator. |
| $50,000.00 | $48,000.00 - $52,000.00 | Weak | Previous consolidation zone prior to the parabolic run-up. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $91,500.00 | $91,000.00 - $92,000.00 | Strong | Coincides with the 20-week SMA (91,348) and the middle Bollinger Band. |
| $99,500.00 | $99,000.00 - $100,000.00 | Strong | Psychological level and the 50-week SMA (99,495). |
| $119,000.00 | $118,000.00 - $120,000.00 | Weak | Previous breakdown area and current upper Bollinger Band. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Cycle Top Distribution | Bearish | $58,375.00 | A major topping formation around the 120,000-140,000 level that resolved in a breakdown of the 100,000 neckline. |
| Weak | Oversold Extremes | Bullish | $91,348.00 | RSI is currently at 28.20, deeply in oversold territory, which historically precedes a relief bounce or consolidation. |
Frequently Asked Questions about BTC
What is the current sentiment for BTC?
The short-term sentiment for BTC is currently Bearish because Price is in a steep downtrend, trading well below the 20 and 50-week SMAs with strong negative momentum on the MACD.. The long-term trend is classified as Bearish.
What are the key support levels for BTC?
StockDips.AI has identified key support levels for BTC at $66,500.00 and $58,250.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is BTC in a significant dip or a Value Dip right now?
BTC has a Value Score of 58/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.